Rivers

Don Blames Inflation On CBN’s Monetary Policy

Published

3 years ago

October 27, 2022

A lecturer at the Rivers State University (RSU), Port Harcourt, Professor Adolphus Joseph Toby, has blamed Monitary policies of the Central Bank of Nigeria (CBN) for the high inflation rate in the country .
Toby, a Professor of Banking and Corporate Finance at the State-owned University, urged the CBN to change its modus operandi in other to curtail the current 20 percent inflation rate.
He noted that the country was facing “serious banking crises and needs council of regulators in the sector instead of a single regulator as currently being practised”.
Prof. Toby, a former Dean, Faculty of Management Sciences, RSU, made these assertions while presenting his Inaugural Lecture on the topic, “Eating Well And Sleeping Well In Fragile Financial Markets: The Banking Trilemma And Corporate Finance Puzzles, during the 81st inaugural lectures of the Institution held at the Senate building in Port Harcourt, midweek.
He said the lecture was intended to show how the policy actions of the Central Bank and the banking institutions affect the depositors, small firms, rural financial sector, and the economy at large.
“In our context, financial markets are fragile when defaults maximise and welfare minimises in response to a shock or crisis. Over the year, our financial markets have been characterised by heightened vulnerability due to defaults or outbreak of financial disorder.
“We can achieve a zero free distress banks in the country through a comprehensive monitory policy. The CBN must be proactive in their actions and not to wait on when things have gone worst with the banks”, while recommending what he called “Toby ‘s Nigerian Banking Soundness model”.
According to him, “in terms of liquidity and profitability, the banks eat well and sleep well, while the depositors are not eaing well and sleeping well”.
He, therefore, urged that the Federal Government, through the CBN, to “come out with a policy that banks leaves parts of their profits with the depositors.
Toby recommended, among other things, that the CBN should inform representatives of the vulnurable sectors on the monetary policy and collaborate with the academia on policy formulation .
Earlier in his address of welcome, the Vice Chancellor of the university, Prof Nlerum S. Okogbule, commended the inaugural lecturer for his mastery and intellectual capacity, describing him as “a truely breed academic”.
He noted that inaugural lectures afford the university the opportunity to “project itself to the wilder society through its various research works that would aid in policy making.”

By: Akujobi Amadi

Rivers

Group Seeks Police Support to Tackle GBV

Published

4 days ago

February 16, 2026

The Tide

The Rivers State Multi-Stakeholder Action Committee on the Prevention of Gender-Based Violence (GBV), a non-profit organization dedicated to combating gender-based violence in the State, recently paid a courtesy visit to the Rivers State Commissioner of Police, Olugbenga Adepoju, to seek his support and partnership for a planned sensitization programme for Police GBV Desk Officers.

The delegation was led by the Permanent Secretary of the Rivers State Ministry of Social Welfare and Rehabilitation, Lauretta Davies Dimpka, alongside the Committee’s Coordinator, Barr. Evelyn Membere Asimiea.

Speaking during the meeting, the Coordinator explained that the committee comprises various stakeholders, including FIDA, the media, security agencies, and traditional and religious institutions.

She noted that the initiative is funded by ActionAid Nigeria with support from the Ford Foundation, with the goal of strengthening efforts to eliminate gender-based violence in Rivers State.

“We have carried out several engagements, including community advocacy programmes and the training of female cultural influencers, among other activities,” she said.

In his response, the Commissioner of Police, Olugbenga Adepoju, pledged his full support for the initiative and assured the committee of the Police Command’s readiness to collaborate in strengthening GBV response mechanisms across the state.

Members of the delegation also included heads of sub-committees within the group: Barr. Ere Boma (Advocacy); Dr. Mary Obisike (Response); Martha Igbiks ( Information and Awareness); and Brown Musa Afonyagha (Religious/Traditional).

Observers described the engagement as a significant step toward enhancing coordination and improving the response to gender-based violence in Rivers State.

Rivers

Youth Body Condemns Killing Of Member … Demands Immediate Suspension Of Bike Operation

Published

4 days ago

February 16, 2026

The Tide

Youths from Igwuruta Community in Rivers State have condemned the killing of the Secretary of Omuolu-Omunwei Community in Igwuruta, Mr. Nchelem Samuel Festus, describing the incident as tragic and unacceptable.

In a communiqué issued on February 12, 2026, the youth body said Mr. Festus was allegedly murdered on Tuesday February 10, 2026, by commercial motorcycle operators identified as “Aboki bike riders” within the community.

The group expressed sadness and outrage over the development, stating that the killing has heightened tension in the area and disrupted the peace for which Igwuruta has long been known.

According to the communiqué, the incident is part of what the community described as a growing wave of criminal activities, including rape, kidnapping and other violent crimes allegedly perpetrated by the same group.

The youth body said Igwuruta has historically maintained a reputation as a peaceful and hospitable community where residents and visitors carry out their daily activities without fear.

It, however, noted that recent events and what it termed as “escalating violence” have created fear among residents and necessitated urgent intervention.

The communiqué called for the immediate suspension of all motorcycle operations by the group within Igwuruta.

It also demanded the closure of scrap-dump sites in the community allegedly operated by the said individuals.

Furthermore, the youth body urged security agencies to ensure the arrest and prosecution of those involved in the killing of Mr. Festus and perpetrators of other alleged crimes in the area.

It also called on cattle herders to vacate farmlands in Igwuruta and urged herdsmen to stay away from bushes within the community with immediate effect.

While pledging to uphold the rule of law and refrain from self-help, the youth body gave security agencies a 48-hour ultimatum to act on some of its demands, particularly the suspension of motorcycle operations and closure of scrap sites.

The communiqué appealed to security agencies, local government authorities and other stakeholders to treat the matter with urgency and collaborate with the community to restore peace and ensure justice.

As at the time of filing this report, the Police has not issued any official statement about the incident.

By: King Onunwor

Rivers

NDDC, REA Seal Pact On Sustainable Electricity Expansion In N’Delta

Published

4 days ago

February 16, 2026

The Tide

The Niger Delta Development Commission (NDDC) has signed a Memorandum of Understanding (MoU) with the Rural Electrification Agency (REA) to expand access to reliable and sustainable electricity across the Niger Delta region.

The agreement, signed at the headquarters of the REA in Abuja, is intended to strengthen institutional collaboration in accelerating development in underserved communities in the region.

A statement by the Director, Corporate Affairs of the NDDC, Seledi Thompson-Wakama, said the pact underscores renewed efforts by the two federal interventionist agencies to deepen cooperation and fast-track infrastructure delivery.

Speaking at the signing ceremony, the Managing Director of the NDDC, Dr. Samuel Ogbuku, described the MoU as a strategic step towards realising the Commission’s vision to “light up the Niger Delta” in line with national priorities on distributed energy expansion.

Ogbuku said “the agreement represents a shared institutional responsibility to deliver reliable energy solutions that will enhance livelihoods, stimulate local economies and create broader opportunities across the nine Niger Delta states.”

According to him, electricity remains a critical enabler of national development, support for job creation, healthcare delivery, education and inclusive economic growth.

He noted that the collaboration would help unlock the economic potential of rural communities while advancing broader national development objectives.

The NDDC boss added that the Commission has consistently adopted partnership-driven approaches in executing projects in the region and is prepared to support the implementation of the MoU by leveraging its community presence and infrastructure development capacity.

He reaffirmed the Commission’s commitment to working closely with the REA to ensure the timely and effective execution of the agreement.

The NDDC delegation at the event included the Executive Director, Projects, Dr Victor Antai; Executive Director, Corporate Services, Otunba Ifedayo Abegunde; Director, Legal Services, Mr. Victor Arenyeka; Director, Finance and Supply, Mrs. Kunemofa Asu; and Director, Liaison Office, Abuja, Mrs. Mary Nwaeke.

In his remarks, the Managing Director of the REA, Dr. Abba Abubakar Aliyu, described the MoU as a natural collaboration between two agencies with complementary mandates, reflecting a shared commitment to expanding access to sustainable electricity in rural communities.

“The Niger Delta remains central to Nigeria’s economic fortunes and must be supported by infrastructure capable of driving productivity, enterprise and improved living standards”, Aliyu said.

He adding that the partnership signals readiness to deliver stable power to communities that have long awaited reliable electricity supply.